In Warren Buffett's 2014 letter to Berkshire Hathaway shareholders, the Oracle of Omaha looks back at his 50 years at company. He recalls an event that he characterized as "a monumentally stupid decision." Believe it or not, it was the aggressive takeover of Berkshire Hathaway, a textile factory that was basically doomed to fail. The "decision" occurred in 1964 when Buffett, then an owner of just 7% of Berkshire, had the opportunity to sell his stake in the company at a quick profit. On May 6, 1...
In Warren Buffett's 2014 letter to Berkshire Hathaway shareholders, the Oracle of Omaha looks back at his 50 years at company. He recalls an event that he characterized as "a monumentally stupid decision." Believe it or not, it was the aggressive takeover of Berkshire Hathaway, a textile factory that was basically doomed to fail. The "decision" occurred in 1964 when Buffett, then an owner of just 7% of Berkshire, had the opportunity to sell his stake in the company at a quick profit. On May 6, 1...
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